Morgan Stanley cut shares of GlaxoSmithKline PLC (NYSE:GSK) from an equal weight rating to an underweight rating in a research report sent to investors on Friday morning.

Several other brokerages also recently weighed in on GSK. ValuEngine downgraded shares of GlaxoSmithKline PLC from a buy rating to a hold rating in a research note on Friday, June 2nd. J P Morgan Chase & Co reissued a neutral rating on shares of GlaxoSmithKline PLC in a research report on Friday, June 16th. TheStreet raised shares of GlaxoSmithKline PLC from a c rating to a b rating in a research report on Friday, May 19th. Zacks Investment Research downgraded shares of GlaxoSmithKline PLC from a buy rating to a hold rating in a research report on Friday, July 21st. Finally, Citigroup Inc. downgraded shares of GlaxoSmithKline PLC from a buy rating to a neutral rating in a research report on Wednesday, July 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $46.00.

Shares of GlaxoSmithKline PLC (NYSE:GSK) traded down 0.25% during trading on Friday, reaching $40.05. 2,015,586 shares of the company traded hands. GlaxoSmithKline PLC has a 52 week low of $37.20 and a 52 week high of $44.54. The company has a market capitalization of $97.88 billion, a price-to-earnings ratio of 39.81 and a beta of 1.03. The firm’s 50 day moving average price is $40.01 and its 200-day moving average price is $41.81.

GlaxoSmithKline PLC (NYSE:GSK) last announced its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. GlaxoSmithKline PLC had a net margin of 6.48% and a return on equity of 114.93%. The firm had revenue of $9.36 billion for the quarter, compared to the consensus estimate of $9.52 billion. Equities analysts anticipate that GlaxoSmithKline PLC will post $2.86 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, August 11th will be paid a $0.491 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Wednesday, August 9th. This is a boost from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is 197.00%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Intl Fcstone Inc. increased its holdings in shares of GlaxoSmithKline PLC by 151.2% in the 2nd quarter. Intl Fcstone Inc. now owns 38,057 shares of the pharmaceutical company’s stock valued at $1,641,000 after purchasing an additional 22,909 shares in the last quarter. Farmers National Bank increased its holdings in shares of GlaxoSmithKline PLC by 23.6% in the 2nd quarter. Farmers National Bank now owns 18,446 shares of the pharmaceutical company’s stock valued at $795,000 after purchasing an additional 3,521 shares in the last quarter. WFG Advisors LP increased its holdings in shares of GlaxoSmithKline PLC by 16.7% in the 2nd quarter. WFG Advisors LP now owns 6,290 shares of the pharmaceutical company’s stock valued at $271,000 after purchasing an additional 898 shares in the last quarter. Oak Associates Ltd. OH increased its holdings in shares of GlaxoSmithKline PLC by 10.0% in the 2nd quarter. Oak Associates Ltd. OH now owns 311,300 shares of the pharmaceutical company’s stock valued at $13,423,000 after purchasing an additional 28,220 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of GlaxoSmithKline PLC by 7.6% in the 2nd quarter. Cetera Investment Advisers now owns 25,975 shares of the pharmaceutical company’s stock valued at $1,115,000 after purchasing an additional 1,836 shares in the last quarter. Institutional investors and hedge funds own 9.28% of the company’s stock.

GlaxoSmithKline PLC Company Profile

GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.

Analyst Recommendations for GlaxoSmithKline PLC (NYSE:GSK)

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